Financial Fraud

As markets become increasingly volatile, the number of matters involving securities fraud likely will increase. Ajamie LLP is a “go to” law firm for investors seeking redress against financial service providers. Our lawyers have significant experience representing individual investors, corporations, advisors, and committees in litigation and arbitration against brokerages, investment firms, hedge funds, accounting firms, banks, and others involved in dealings with private investors.

We work with individuals and companies across the United States, as well as clients domiciled abroad, to recover investment losses sustained here. We advise clients in matters involving the Securities Exchange Act of 1934, Investment Advisors Act of 1940, and other state and federal laws. Our attorneys also deal with regulatory authorities and self-regulatory organizations such as the Securities Exchange Commission and the Financial Industry Regulatory Authority. The firm has also negotiated favorable settlements for individuals and corporations who were alleged to have engaged in deceptive practices, most notably under the Texas Deceptive Trade Practices-Consumer Protection Act.

Our firm has garnered industry and media attention for its successful efforts on behalf of investors. Our experience includes winning a $430 million arbitration award, the largest in history, against a former PaineWebber broker. The Wall Street Journal noted that the size of the award was “roughly 10 times that of the next largest award.” One of the brokers involved in the fraud was convicted and served more than six years in federal prison.

In addition to investment fraud, our firm’s lawyers handle a broad array of other financial fraud issues, including corporate disinformation, bank fraud, foreign bank secrecy, and breach of confidentiality. We also defend financial advisors in claims involving allegations of misconduct or misappropriation.

The firm has an impressive track record in regard to class action securities fraud, including winning the dismissal of 21 consolidated class action lawsuits filed in federal court against former officers of a New York Stock Exchange listed client alleging violations of the Securities Exchange Act of 1934. We successfully defended a Texas partnership and its partners in a class action securities fraud case by filing a challenge to personal jurisdiction on behalf of partners, prevailing on appeal in a case of first impression, and subsequently settling the claim against the partnership for nuisance value.

Representative matters include:

Winning a $429.5 million arbitration award, the largest in history, against a former PaineWebber broker. The Wall Street Journal noted that the size of the award was “roughly 10 times that of the next largest award.” One of the brokers involved in the fraud was convicted and served more than six years in federal prison.

Settling a lawsuit against two insurance agents, six insurance companies and a law firm for nearly $7 million after four days of trial in a Galveston County, Texas state court. The lawsuit alleged that the defendants negligently advised a 90-year-old widow and her 65-year-old son to sell their Berkshire Hathaway, Inc. stock and use the proceeds to purchase life insurance and annuities as part of an “estate tax plan.”

Representing a leading private correctional company in a lawsuit filed against a Fortune 50 corporation. The lawsuit sought a multi-million dollar recovery for breach of contract, breach of fiduciary duty and fraud.